Markets don’t work very well when its the government forcing them to move. From Eric Peters at ericpeters.com:
The Biden Thing’s TelePrompter says “Car and truck manufacturers have made clear that the future of transportation is electric.”
And then this: “The market is moving.”
The bum’s rush toward a battery-powered future is as much about the “market moving” as Deliverance is a love story.
That there is no market for these battery-powered devices is of course precisely why it is necessary for the apparatchik class – the bureaucrats and office-holders who live outside its discipline – to countermand the market’s inclinations. If that were not pravda, then the “proposed rules” (as they are blandly styled) that will serve to out-regulate cars that aren’t battery-powered devices would be as unnecessary as “proposing rules” requiring that people sleep on mattresses rather than the floor.
But they are very necessary – when your intent is to force people to sleep on the floor.
Thus the new rules:
“EPA estimates that by 2032, if finalized, the proposed rules could result in electrification of 67 percent of new sedans, crossovers, SUVs, and light trucks; 50 percent of new vocational vehicles (such as buses and garbage trucks); 35 percent of new short-haul freight tractors; and 25 percent of new long-haul freight tractors.”
No, they will result. Which is exactly the result when the “market” is prohibited from doing its thing.
Markets are not precisely predictable. You never know what will happen. The ebb and flow of demand and supply; the vagaries of individual wants and needs of buyers and sellers meeting agreeably as they arise, in a manner that ends up profiting both.